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2016-08-25 18:35:00

THE LARGEST LNG IMPORTERS

THE LARGEST LNG IMPORTERS

 

ASIAN LNG IMPORTS 2007 - 2015

 

According to EIA, Japan, South Korea, and China are the three largest importers of liquefied natural gas (LNG) in the world, accounting for more than half of global LNG imports in 2015. Combined LNG imports in these countries averaged 18.2 billion cubic feet per day (Bcf/d) in 2015, a 5% (0.9 Bcf/d) decline from 2014 levels and the first annual decline in these countries' combined LNG imports since the global economic downturn in 2009.

Declines in LNG imports in these countries were partially offset by increasing LNG imports elsewhere in Asia. Imports in India and Taiwan, the fourth- and fifth-largest LNG importers, respectively, increased slightly in 2015. However, most of the increase in LNG imports came from emerging Asian LNG markets, such as Malaysia, Singapore, Thailand, and Pakistan. Although LNG demand growth prospects are limited in the more mature markets of Japan and South Korea, LNG demand in China, India, Taiwan, and emerging Asian markets is expected to grow in the future.

In Japan, South Korea, and China, reduced demand for natural gas in the power sector, driven by slower economic growth and lower-priced competing fuels, resulted in reduced LNG consumption in 2015. Cooler-than-usual temperatures as a result of effects from El Niño also contributed to lower electricity consumption and reduced LNG imports in those countries.

Potential for LNG demand growth in both Japan and South Korea may be limited. Japan's total electricity consumption has fallen for five consecutive years, and nuclear generation is gradually returning to service, likely reducing natural gas use for electricity generation. In South Korea, government policies that favor the use of coal and nuclear over natural gas for electricity generation led to a greater use of coal-fired and nuclear power plants.

In China, the lower prices of competing fuels and the slowdown in the growth of the Chinese economy drove the 2015 decline in LNG imports. Natural gas use in China may increase for several reasons: the implementation of environmental policies promoting use of natural gas in the power, industrial, and transportation sectors; the availability of imported global LNG supply at relatively low prices; and growing capacity of LNG regasification.

Emerging Asian LNG import markets, including Thailand, Malaysia, Singapore, and Pakistan, currently account for a small share of total Asian LNG imports, but they may have the potential to increase their LNG imports soon. LNG import growth in these countries is driven primarily by the increased use of natural gas for power generation.

In Thailand, the combined effects of declining domestic natural gas production near consuming centers and strong growth in natural gas demand are driving LNG import growth. Although LNG imports provide a relatively small share of natural gas supply in Thailand, the country's LNG imports are projected to increase because of limited growth potential for domestic production and for pipeline imports from Myanmar, its two main supply sources.

Malaysia began importing LNG in 2013. The country's LNG imports are projected to grow moderately, limited by competition from lower-priced coal and domestic natural gas prices.

Prospects for LNG demand growth in Singapore depend on the country becoming an LNG trading hub in the region. Singapore is increasing regasification capacity and launched the SGX LNG index in an effort to establish a regional Asian LNG hub.

Pakistan began importing LNG in March 2015. Pakistan's LNG imports are projected to double in the next two years. Declining domestic production and rapidly growing natural gas demand in the power generation and industrial sectors, results in increases in LNG imports.

 

ASIAN LNG IMPORTS 2011 - 2015

 

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Earlier: 

CHINA'S GAS FUTURE 

ASIAN LNG IMPORTS UP 

THAILAND'S LNG WILL UP 

VIETNAM & JAPAN LNG 

INVERTED LNG MARKET

 

 

Tags: LNG, ASIA, JAPAN, SOUTH KOREA, CHINA,

Chronicle:

THE LARGEST LNG IMPORTERS
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U.S. INDUSTRIAL PRODUCTION UP 0.1%

U.S. FRB - Industrial production edged up 0.1 percent in July after rising at an average pace of 0.5 percent over the previous five months. Manufacturing production increased 0.3 percent, the output of utilities moved down 0.5 percent, and, after posting five consecutive months of growth, the index for mining declined 0.3 percent. At 108.0 percent of its 2012 average, total industrial production was 4.2 percent higher in July than it was a year earlier. Capacity utilization for the industrial sector was unchanged in July at 78.1 percent, a rate that is 1.7 percentage points below its long-run (1972–2017) average.

THE LARGEST LNG IMPORTERS
2018, August, 17, 11:25:00

NORWAY'S PETROLEUM PRODUCTION: 1.911 MBD

NPD - Preliminary production figures for July 2018 show an average daily production of 1 911 000 barrels of oil, NGL and condensate, which is an increase of 64 000 barrels per day compared to June.

THE LARGEST LNG IMPORTERS
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GAZPROM NEFT NET PROFIT UP TO 49.6%

GAZPROM NEFT - For the first six months of 2018 Gazprom Neft achieved revenue** growth of 24.4% year-on-year, at one trillion, 137.7 billion rubles (RUB1,137,700,000,000). The Company achieved a 49.8% year-on-year increase in adjusted EBITDA, to RUB368.2 billion. This performance reflected positive market conditions for oil and oil products, production growth at the Company’s new projects, and effective management initiatives. Net profit attributable to Gazprom Neft PJSC shareholders grew 49.6% year on year, to RUB166.4 billion. Growth in the Company’s operating cash flow, as well as the completion of key infrastructure investments at new upstream projects, delivered positive free cash flow of RUB47.5 billion for 1H 2018.

THE LARGEST LNG IMPORTERS
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OIL PRICE: NEAR $72

REUTERS - Front-month Brent crude oil futures LCOc1 were at $72.34 per barrel at 0648 GMT, down by 12 cents, or 0.2 percent, from their last close. U.S. West Texas Intermediate (WTI) crude futures CLc1 were down 23 cents, or 0.3 percent, at $66.81 per barrel.

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